Am I eligible to apply for a loan?
To qualify for a loan through the OppLoans website, all applicants must:
We do not currently accept applications by phone. However, our online application process is quick and easy—we promise! Just click “Apply Now” at the top of this page or visit www.opploans.com/register to begin the application on your computer, smartphone or tablet!
There are some instances where proof-of-income is required prior to your application being approved, including:
Proof-of-income may include a government benefits award letter or a recent bank statement displaying regular deposits. Alimony, child support, or separate maintenance income need not be revealed if you do not wish to have it considered as a basis for your ability to repay. Please review our Rates & Terms page for more information about regulations in your state.
In order to submit an application that our underwriting can review, applicants must:
You will receive an email notification if your application has been approved, so please make sure your email is correct when you create your account!
We understand that financial situations change and that you may need more flexibility when borrowing money. To help in this process, we offer refinances to eligible current customers. If you are eligible to refinance, you will see a “Refinance Now” option in your customer portal.
It’s important to OppLoans to offer easy and convenient ways to pay back your loan. The most popular and preferred method for many customers is through electronic fund transfer (EFT). We also offer a recurring payment option of remotely created checks.
For one-time payments, we accept debit cards and EFT. Please review details about each payment method below, including the cutoff times:
Electronic Fund Transfer (ACH Debits)
This is the most popular repayment method for many customers. ACH stands for Automated Clearing House and is a form of electronic debit. We electronically debit your bank account for the amount you owe and the debits coincide with your due dates. You must set up ACH or make changes to your ACH payment two business days before your payment due date. Typically, you will see the debit go through within (2) business days of your due date but check with your financial institution for details on their ACH practices. A payment scheduled on a holiday or weekend may not process until the next business
OppLoans accepts debit cards for one-time payments. Typically, debit card payments are applied the same day. For example, if your payment is due on January 5, your debit card payment must be made on or before January 5 during the hours of operation.
You can set up a one-time or recurring debit card in the customer portal or by calling us at 855-408-5000.
If for some reason you know you can’t make your scheduled payment or miss a past payment, please give us a call at 855-408-5000 and speak to one of our Customer Advocates who can assist you.
Yes! At OppLoans, we want to make things convenient for you. OppLoans does not charge any prepayment fees. You can pay off your loan or make additional payments at any time. Simply log into your account to make a payment using your saved bank account (ACH) or a debit card.
If you choose to pay off your balance in full, please note that if for any reason that your payment does not clear, interest will continue to accrue and the total amount due will increase.
Extra payments help you repay your loan faster, reducing the amount of interest that you will owe. However, please keep in mind that making an early payment does not change or suspend your scheduled payments and you will still need to make your next scheduled payment.
No! OppLoans is not a scam. OppLoans is one of the highest-rated companies in the non-prime consumer lending space. OppLoans has an A+ rating from the Better Business Bureau and highly rated on Google and LendingTree for our unmatched customer service. OppLoans has been named on Inc. 500’s list of fastest growing companies, is one of Built in Chicago’s top 100 digital companies, and was named an industry leader by The Center for Financial Services Innovation.
In the pre-digital age, a personal loan was obtained from a bank. In order to get a loan, you had to make an appointment, drive down to your local branch and have a long face-to-face meeting with a personal banker. Then you had to wait while the bank evaluated your request. Then they would send you notice through the mail that your request for a loan was approved. Then you still had to actually apply for the loan itself!
The internet has made a lot of things easier, not just listening to music and ordering food delivery. Your grandfather had to walk 10 miles in the snow, uphill both ways, to go see a baby panda sneezing in person! But now you can sit in the comfort of your home and apply for a personal loan online.
The era of server farms and customer data means that your online application can be evaluated and approved the same day! Many online lenders have a simple application form that you can fill out easily. Depending on the lender, you can have your funds deposited into your account by the next business day.*
OppLoans is a leader in the online lending industry. You can start your loan application today on our homepage. Our helpful team of loan advisors and customer service representatives are here to help you get the funds you need with payment terms that you can afford. We are the ideal lender for customers with less-than-perfect credit.
It’s near the end of the month and you get a call from your kid’s school. He threw up during math class. You take him to the doctor and they tell you that he has a mild flu, nothing major. You breathe a sigh of relief. You don’t have the funds to pay for something major right now. You really dodged a bullet with this one. Then you get out to the parking lot and your car won’t start. The battery’s dead.
It’s in situations like this that people take out payday loans. They are short-term low-dollar-amount loans, often for a few hundred dollars but sometimes more. They are meant to be paid back on your next payday. Their short-term nature is what led to their name: they are only meant to last you until your next payday.
Payday loans have an extremely high APR in comparison to other personal loans. They also have very short repayment terms compared to other person loans. For instance, a $100 loan with a two-week term and a $20 fee would only cost the borrower $120 if paid back on time. However, the APR on that loan is a whopping 520%. It is crucial that payday loans be paid back on time.
Payday loans are often very easy to get. Sometimes they involve no credit check at all. But the high APR means that they can be very risky for the borrower.
OppLoans offers a great alternative to payday lenders. You can fill out our simple, streamlined application today on our homepage. Our helpful team of loan advisors and customer service representatives are here to help you get the funds you need with payment terms that you can afford. We are the ideal lender for customers with less-than-perfect credit.
A personal loan is a loan made to an individual rather than a business. They are usually sought in order to consolidate debt or to cover emergency expenses. The two main types of personal loans are “secured” loans and “unsecured” loans.
Secured Loan: A secured loan is one where property is pledged as collateral. For instance, a mortgage is a secured loan with the borrower’s house serving as collateral. Should the borrower be unable to repay and default on the loan then the collateral is claimed by the lending institution as compensation.
Unsecured Loan: An unsecured loan is one where no property is pledged as collateral. The loan is approved entirely on the individual’s ability to repay.
Outside of mortgages and auto loans, the majority of personal loans are unsecured. Because the borrower’s credit score is a major factor in determining their creditworthiness, people with low credit scores are usually unable to get approved for an unsecured personal loan from a bank or traditional lender.
OppLoans leverages cutting-edge technology and customer data to evaluate our customers on a person-by-person basis. We tailor all our products towards a customer’s ability to repay.
Simply go to our homepage www.opploans.com and click the “My Account” button in the upper right-hand corner. Once you log in, you will be able to select “Change Password” on your customer dashboard to complete your password change.
Simply go to our home page www.opploans.com and click the My Account button in the upper right hand corner. Once you login you will be able to view your loan agreement and check your balance.
Please call us at 855-408-5000 and one of our Advocates would be happy to assist you.
How do I update my phone, email and home address?
Please call us at 855-408-5000 and one of our Advocates would be happy to assist you.
No worries! We’ll help you set a new password for your security. Here’s how:
Simply go to our home page www.OppLoans.com and click the My Account button in the upper right-hand corner. Once you log in you will be able to view your loan agreement, your scheduled upcoming payments, past payments and check your balance.